BEPS refers to corporate tax planning strategies used by multinationals to "shift" profits from higher tax jurisdictions to lower tax jurisdictions, thus "eroding" the "tax–base" of the higher tax jurisdictions.
This undermines the fairness and integrity of tax systems because businesses that operate across borders can use BEPS to gain a competitive advantage over enterprises that operate at a domestic level.
Moreover, when taxpayers see multinational corporations legally avoiding income tax, it undermines voluntary compliance by all taxpayers.
The Organization for Economic Co-operation and Development (OECD) and G20 has an Inclusive Framework on BEPS, which brings together over 125 countries and jurisdictions to collaborate on the implementation of the BEPS Package.
The BEPS Package provides 15 Actions that equip governments with the domestic and international instruments needed to tackle tax avoidance.
Countries now have the tools to ensure that profits are taxed where economic activities generating the profits are performed and where value is created.
These tools also give businesses greater certainty by reducing disputes over the application of international tax rules and standardizing compliance requirements.
Chaukhandi Stupa
Chaukhandi Stupa is an ancient Buddhist site in Uttar Pradesh's Sarnath.
Stupas have evolved from burial mounds and serve as a shrine for a relic of the Buddha.
The Chaukhandi Stupa was built as a terraced temple during the Gupta period between the 4th and 6th centuries to mark the site where Lord Buddha and his first disciples met traveling from Bodh Gaya to Sarnath.
Later King Govardhan, son of Raja todarmal modified the stupa by building an octagonal tower to commemorate the visit of Mughal ruler Humayun.
The monument has been declared to be “of national importance” by the Archaeological Survey of India.
Jnanpith Award
The Jnanpith Award is an Indian literary award presented annually by the Bharatiya Jnanpith.
The award is presented to an author for their "outstanding contribution towards literature".
Instituted in 1961, the award is bestowed only on Indian writers writing in Indian languages included in the Eighth Schedule of the constitution, with no posthumous conferral.
The nomination for the award consider only works published during the preceding twenty years, excluding the year for which the award was to be given.
Foreigners (Tribunals) Order, 1964
Ministry of Home Affairs (MHA) has amended the Foreigners (Tribunals) Order, 1964, and has empowered district magistrates in all States and Union Territories to set up tribunals to decide whether a person staying illegally in India is a foreigner or not.
Earlier, the powers to constitute tribunals were vested only with the Centre.
The tribunals are quasi-judicial bodies, unique to Assam’s NRC tribunals, to determine if a person staying illegally is a “foreigner” or not.
The amended Foreigners (Tribunal) Order, 2019 also empowers individuals to approach the Tribunals.
Earlier only the State administration could move the Tribunal against a suspect.
Malaria Detection Chromatography
Paper chromatography is an analytical method used to separate coloured chemicals or substances.
Indian researchers have found simple malaria detection method that uses an instrument when in the lab or a piece of chromatographic paper when in the field.
The kit can be used to detect Plasmodium parasite, which causes malaria and also specifically detect Plasmodium falciparum, a notorious species.
The blood sample with the antigen is introduced in the blue coloured strip if turns into pink then the presence of malaria is confirmed.
This kit has high stability in hot and humid conditions and the paper-based method offers the result rapidly.
